1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vlad [161]
3 years ago
13

Brian and sandy are forming a partnership. brian will invest a truck with a book value of $10,000 and a fair value of $14,000. s

andy will invest a building with a book value of $30,000 and a fair value of $42,000 with a mortgage of $15,000. what amount should be recorded in sandy's capital account? $27,000 $30,000 $42,000 $14,000
Business
1 answer:
ycow [4]3 years ago
3 0
The amount that should be recorded in Sandy's capital account is $42,000.
Accounting regulations require us to record assets according to the Fair value (in this case, the Building's fair value is $42,000).
This requirement is placed so the portfolio reflected the Asset's true economic value after considering the situation in the market. (if the situation in the market changed, the accountant could creat adjustment in the Asset's value)

You might be interested in
What is the best revision of sentence 6 to maintain a formal style? moreover, students will benefit from having the most current
leva [86]
The best option which contains a sentence with a perfect grammar structure is : M<span>oreover, students will benefit from having the most current information. This sentence in quite concise and includes only formal language. Formal style does not accept shortenings that you can see in the next option (info) and informal vocabulary (kids) that is placed in the third option.</span>
4 0
3 years ago
Read 2 more answers
Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The F
Valentin [98]

Answer:

$1,027.86

Explanation:

Total Taxes = Federal Income Tax + FICA-SS Tax + FICA-Medicare Tax

Total Taxes = $680.70 + ($4,538.00 × 0.062) + ($4,538.00 × 0.0145)

Total Taxes = $680.70 + $281.36 + $65.80

Total Taxes = $1,027.86

Therefore the total amount of taxes withheld from the Trey’s earnings is $1,027.86

5 0
3 years ago
Partners Dennis and Lilly have decided to liquidate their business. The following information is available:
fgiga [73]

Answer:

Partners Dennis and Lilly have decided to liquidate their business. The following information is available:

Cash $100,000 Accounts Payable $100,000

Inventory $200,000 Dennis, Capital $120,000

Lilly, Capital $80,000

$300,000 $300,000

Dennis and Lilly share profits and losses in a 3:2 ratio. During the first month of liquidation, half the inventory is sold for $60,000, and $60,000 of the accounts payable is paid. During the second month, the rest of the inventory is sold for $45,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.

1. Using a safe payments schedule, how much cash will be distributed to Dennis at the end of the first month?

a. $36,000

b. $64,000

c. $60,000

d. $24,000

2. Using a safe payments schedule, how much cash will be distributed to Lilly at the end of the first month?

a. $40,000

b. $24,000

c. $64,000

d. $16,000

4 0
2 years ago
Some laws prohibit discrimination in employment. These laws promote which of the following primary functions of​ law? A. promoti
Nostrana [21]

Answer:

A. promoting social justice

Explanation:

Discrimination in any manner is prohibited at all the public places, and work places are part of such places covered.

There cannot be any discrimination on the grounds of religion, color, gender, or by any other categorization.

In this manner, every individual is treated equally, irrespective of the background he or she belongs too.

This provides a social justice to every individual. In this manner the social status, personality is not hindered.

7 0
3 years ago
An economy's standard of living can be at its highest if:
Natasha2012 [34]
Whats the answer options you get

8 0
3 years ago
Other questions:
  • produces considerable inefficiency in the use of scarce resources. effectively harnesses the incentives of workers and entrepren
    6·1 answer
  • For the years 1995 to 2007, if output per person in the private sector grew 2.7 percent, capital intensity grew 1.1 percent, and
    13·1 answer
  • Bill owns a company called Wild Bill's Bracelets that sells custom jewelry. He launched a Search campaign to drive sales of his
    8·1 answer
  • 1. The following costs were incurred in September:
    7·1 answer
  • Jack broke into the Acme Liquor Store. He took $600 in cash. The police arrested him and he was convicted for this crime. The pe
    11·1 answer
  • Why should you purchase insurance?
    5·1 answer
  • Presented below is information related to Shamrock Corp., which sells merchandise with terms 2/10, net 60. Shamrock Corp. record
    7·1 answer
  • Can we imagine life without trade?Why or why not? Explain in briefly.​
    11·1 answer
  • The rationing function of prices refers to the ability of the competitive forces of supply and demand to establish a price at wh
    5·1 answer
  • What are your thoughts on Encanto?
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!